Conduits of Capital

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IT Industry Competitiveness BSA / EIU http://globalindex11.bsa.org/country-table/ R 2 = 0.108 Country Based Public Sector Influence = Medium Private Sector Influence = Medium This index compares 66 countries on the extent to which they are capable of sustaining a strong IT sector. 26 indicators are used to create the index and these are split into six areas: Overall business environment; IT infrastructure; Human capital; R&D development; Legal environment and Support for IT industry development. Office Occupancy Costs DTZ http://www.dtz.com/Global/Research/ R2 = 0.290 City Based Public Sector Influence = Low Private Sector Influence = Low This report is a guide to total office occupancy costs across 124 business districts in 49 countries and territories worldwide. The report looks at the main components of occupancy costs in major office markets across the globe and provides a ranking based on annual costs per workstation paying due account to differences in space utilisation per workstation in all markets. This latest survey compares the total occupancy cost per workstation measured in USD at the end of 2011 and provides forecasts of total occupancy costs to 2016. The report also analyses the cost of occupying secondary space in selected locations, as well as the impact of a downside economic scenario on global office rents. http://www.cushmanwakefield.com/en/ Office Space Around the World Cushman & Wakefield research-and-insight/2014/office-spaceacross-the-world-2014/ R 2 = 0.204 City Based Public Sector Influence = Low Private Sector Influence = Low This report shows office occupancy costs across the globe over the past twelve months, ranking the most expensive locations in which to occupy office space. This is a simple measure of average annual rental rates in various cities’ business districts that is provided by Cushman & Wakefield in Euros, US dollars and local currency per square meter. Costs of office space are an important consideration for the running of any business, higher costs are clearly not beneficial but these are rarely viewed in isolation—what businesses receive in return for running an office is more important and this is what determines the demand for office space and consequently the costs. http://www.economistinsights.com/ Physical Capital EIU countries-trade-investment/analysis/hotspots/ R 2 = 0.133 City Based Public Sector Influence = High Private Sector Influence = Medium Physical Capital is one of eight categories used in the Global City Competitiveness Index. It is made up of three sub-indices: quality of physical infrastructure, quality of public transport and quality of telecommunications infrastructure. This category reflects the availability of and access to developed and efficient infrastructure which helps businesses operate more efficiently. It also has an element of quality of life for residents and visitors. http://www.weforum.org/en/initiatives/ Quality of Ground Transport Network World Economic Forum gcp/TravelandTourismReport/ CompetitivenessIndex/index.htm R2 = 0.140 Country Based Public Sector Influence = High Private Sector Influence = Low This index is derived from the World Economic Forum’s Travel and Tourism Competitiveness Index. The quality of ground transport network ranks countries according to the quality of their public transport network and is one of the measures used to compile a sub-index reflecting a country’s ground infrastructure. It is based on an opinion questionnaire and is hence more indicative of the public’s perception of the transportation network rather than hard data. Quality of Roads World Economic Forum http://www.weforum.org/en/initiatives/ gcp/TravelandTourismReport/ CompetitivenessIndex/index.htm R 2 = 0.176 Country Based Public Sector Influence = High Private Sector Influence = Low This indicator is used to compile a sub-index that reflects a country’s ground infrastructure. It is based on WEF’s annual Executive Opinion Survey conducted through a questionnaire among business executives around the world, and is hence more indicative of perception of the road network rather than hard data. http://www1.ipd.com/Pages/DNNPage. Global Property Index Investment Property Databank aspx?DestUrl=http%3a%2f%2fwww.ipd. com%2fsharepoint.aspx%3fTabId%3d425 R2 = 0.221 City Based Public Sector Influence = Medium Private Sector Influence = Low This factor measures the five years total return on real estate investment in local currencies for 23 developed markets in Europe, North America and Australasia. The percentage returns are annualised and combine industrial, residential, retail and office properties. Unlike Office Space and Office Occupancy Costs, which look from the perspective of rents and business costs, this index views real estate from an investors’ standpoint. Metro Network Length Metro Bits http://mic-ro.com/metro/table.html R 2 = 0.120 City Based Public Sector Influence = Medium Private Sector Influence = Low This factor looks at the distance covered by a city’s metro, the number of stations and the average distance between stations. 146 |
Human Capital Instrumental Factor Source Website Citizens Domestic Purchasing Power UBS http://www.ubs.com/1/e/ubs_ch/wealth_ mgmt_ch/research.html R 2 = 0.179 City Based Public Sector Influence = Medium Private Sector Influence = Low This indicator measures the purchasing power of the citizens of 73 cities across the world. It is based on average earnings per city and a general basket of 154 goods and services based on Western European consumer preferences. Higher purchasing power implies a better standard of living and quality of local services available. Citywide CO 2 Emissions Carbon Disclosure Project http://www.cdpcities2013.net/#!/index/ R2 = 0.209 City Based Public Sector Influence = Medium Private Sector Influence = Medium As measured by CDP—an international, not-for-profit organisation providing a global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP holds a very extensive collection of primary climate change, water and forest-risk information. Global Talent Index EIU http://www.managementthinking.eiu.com/ global-talent-index-2011-2015.html R 2 = 0.135 Country Based Public Sector Influence = Medium Private Sector Influence = Medium This index presents an outlook to 2015 for countries’ talent development, attraction and retention potential. It gauges talent trends on two dimensions: at the international level through a benchmarking index of talent environments in 60 countries; and at the enterprise level, determining how executives view the outlook for their own firms’ ability to attract and retain the people they will need. The index is based on data in seven categories: Demographics; Compulsory education; University education; Quality of the labour force; Talent environment; Openness and Proclivity to attracting talent. Human Capital EIU http://www.economistinsights.com/ countries-trade-investment/analysis/hotspots/ R 2 = 0.115 City Based Public Sector Influence = Medium Private Sector Influence = Medium Human Capital is one of eight categories used in the Global City Competitiveness Index. It is made up of six sub-indices: population growth; workingage population; entrepreneurship and risk-taking mindset; quality of education; quality of healthcare and hiring of foreign nationals. It is an aggregate economic view of the human being acting within an economy. It looks at the combination of knowledge, creativity and personal attributes that are likely to contribute to economic performance—superior human resources are correlated with improved financial returns and increased shareholder value. Spatial Adjusted Liveability Index EIU http://pages.eiu.com/rs/eiu2/images/ EIU_BestCities.pdf R2 = 0.125 City Based Public Sector Influence = Medium Private Sector Influence = Low This index examine spatial qualities such as the amount of green space and urban sprawl, the levels of pollution and cultural assets in concert with the categories used in the existing EIU Liveability index in order to incorporate spatial characteristics of the cities already present in the index. The initial liveability survey weighed up 30 factors, which broadly corresponded to five categories—including social stability, infrastructure, education and culture. Top Tourism Destinations Euromonitor Archive R 2 = 0.170 City Based Public Sector Influence = Medium Private Sector Influence = Low http://blog.euromonitor.com/2014/01/ euromonitor-internationals-top-citydestinations-ranking.html This ranking of cities is comprised of the number of international arrivals over a year. It is estimated that around 80% of these arrivals are tourists but there is also an ever more important part – the MICE (Meetings, Incentives, Conventions and Exhibitions) travellers. International top tourist destinations have a powerful incentive to invest in travel infrastructure, hotels and convention centres and thus improve the overall quality of living and working there. http://www.uk.capgemini.com/thought- Number of High Net Worth Individuals Capgemini leadership/world-wealth-report-2013-from- capgemini-and-rbc-wealth-management R2 = 0.161 Country Based Public Sector Influence = Medium Private Sector Influence = Medium This factor represents the number of high net worth individuals per country as estimated by City Bank and Knight Frank’s latest Wealth Report. There are two implications behind the presence of more high net worth individuals in a country: first there will be more demand for financial services as wealthy people will need private banking, asset management, insurance services, etc; second the country will be a relatively good place to live in. Conduits of Capital – Onshore Financial Centres and Their Relevance to African Private Equity | 147
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Conduits of Capital Onshore Financi
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TABLE OF CONTENTS I. FOREWORD .....
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predictable, legal systems that res
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works and that everyone loves.” D
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Because of the fragmented nature of
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Industry Views: EMPEA 2015 African
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EXECUTIVE SUMMARY In April 2015, FS
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INTRODUCTION Across the emerging ma
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As a general rule, GPs tend to foll
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“Offshore” refers to a jurisdic
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expressed by GPs). Over 61% of GP r
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“The industry has found a very sa
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INDUSTRY ATTITUDES TOWARD ONSHORE A
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A RANKING OF ONSHORE FUND DOMICILES
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Conduits of Capital - Onshore Finan
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WHAT COULD MAKE ONSHORE SUB-SAHARAN
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“Other” actions include: “rem
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“ STAKEHOLDER VIEWS ON THE RELATI
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APPENDIX 1 - DETAILS ON SURVEY PART
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Expert Perspectives: Onshore Financ
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Experts were asked to make recommen
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Table 2 - Prerequisites for a succe
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3. FINDINGS 3.1 Evolution and Compa
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particular jurisdiction (communicat
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that it is obvious: a well-function
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• The development of an onshore f
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amined the impact that venture capi
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4.1. Where do Private Equity Fund M
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in absolute terms, or relative to t
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average. With respect to regulatory
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For future research, it is importan
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ENDNOTES 1 World Bank Enterprise Su
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33 African Development Bank. Maurit
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71 Unfortunately, the DTAAs lists b
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The financial activities carried in
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The OECD has reviewed over 100 juri
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Importance of Domestic Flows The re
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Rwanda is not included in any of th
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Other possible contenders may emerg
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APPENDIX 1: LISTING OF COUNTRIES IN
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Country / Territory Palau Listed by
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Country Mauritius Morocco 16 Nigeri
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Onshore Options for Africa-focussed
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Developing skills in these areas re
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2.2 Policy Issues Related to Onshor
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• Good accessibility. Good commun
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4. ROLE OF DONORS AND TECHNICAL ASS
Page 95 and 96: Thus, while some PE general partner
Page 97 and 98: management extends to monitoring co
Page 99 and 100: ANNEX 1: CATALOGUE OF FINANCIAL CEN
Page 101 and 102: Dublin Mauritius Dubai Botswana Cap
Page 103 and 104: To some extent, policymakers also n
Page 105 and 106: In administrative financial centres
Page 107 and 108: services industry. However, recent
Page 109 and 110: gains, even if it involves offshore
Page 111 and 112: ather than an onshore centre that i
Page 113 and 114: generally look to London or in some
Page 115 and 116: Onshore Options for Africa-focussed
Page 117 and 118: whether it is ‘Local,’ ‘Trans
Page 119 and 120: are suited to particular financial
Page 121 and 122: In GFCI 16, only three African cent
Page 123 and 124: The ‘stable’ centres in the bot
Page 125 and 126: GFCI 16 Investment Management Centr
Page 127 and 128: Professional service providers tend
Page 129 and 130: Busan and Doha have been advancing
Page 131 and 132: Zambia and Zimbabwe, the report not
Page 133 and 134: Get Connected - Ease Scaling Up In
Page 135 and 136: Financial centres are added to the
Page 137 and 138: The SVM then uses the data to predi
Page 139 and 140: Instrumental Factor Country or City
Page 141 and 142: Instrumental Factor CA* BU DO DU IS
Page 143 and 144: Open Government The World Justice P
Page 145: Securitisation TheCityUK http://www
Page 149 and 150: Global City Competitiveness EIU htt
Page 151 and 152: 6.4 Appendix D - Group Respondent P
Page 153 and 154: Dubai Istanbul Conduits of Capital
Page 155 and 156: 6.5 Appendix E - Country Summary Ov
Page 157 and 158: Uganda 26.086 33,800,000 772 Kampal
Page 159 and 160: Page intentionally left blank Condu
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